Wates Group has formally completed the acquisition of a number of contracts and frameworks from Shepherd Construction.
The preliminary deal was announced in May, and includes the acquisition of Shepherd Engineering Services and Shepherd Facilities Management. The acquired project portfolio will be integrated into the Wates Construction business, effective immediately.
There are 120 staff spread across the three divisions in the North West, based in the Shepherd Group offices in Altrincham.
The acquisition will allow Wates to expand further into the Midlands and the North.
Wates Group said it was close to delivering an “ambitious turnover target”, with a focus on existing core markets creating its largest work-in-hand in five years and a forward order book of £3bn, up 50% on last year.
Phil Harrison, managing director of Wates Construction Midlands and North, said: “Today’s acquisition gives us an extremely strong foundation upon which to seize emerging business opportunities in previously untapped areas of the North. The contracts and frameworks acquired boost an already prolific forward order book and enable us to significantly grow our presence in the marketplace.
“Together with a distinct and outstanding engineering capability and a nationwide facilities management portfolio, today’s acquisition propels Wates towards the pinnacle of the UK’s construction and property services industry.
“We are now preparing to welcome new colleagues to the business and our immediate priority is to ensure the engagement and alignment of our people, while remaining focused on maintaining our reputation for excellent customer service.”